Odia govt jobs   »   Addapedia Odisha, Daily Current Affairs

Addapedia Odisha | Daily Current Affairs | 05 August 2024 | Download PDF

As you are aware, in all competitive exams, the “Daily Current Affairs Section” holds significant importance in determining the cutoff scores. Therefore, if you excel in this section, you will have a better chance of achieving higher marks in these exams and securing a spot on the merit list.

Addapedia Odisha – Daily Current Affairs -05 August 2024

National and International News

Price Monitoring System App Why in the news?

  • The Union Minister of Consumer Affairs, Food and Public Distribution & New and Renewable Energy recently launched Version 4.0 of the Price Monitoring System (PMS) Mobile app.

About Price Monitoring System App:

  • Price Monitoring Division (PMD):
    • Responsible for monitoring prices of selected essential commodities.
    • Launched the PMS App in 2021 for daily price reporting.
  • Source of Price Data:
    • Retail and wholesale prices from 550 centers.
    • Data received daily from State Civil Supplies Departments through the Mobile App.
  • Commodities Monitored:
    • Initially Monitored (22 commodities):
      • Rice, Wheat, Atta, Gram Dal, Tur (Arhar) Dal, Urad Dal, Moong Dal, Masur Dal, Sugar, Gur, Groundnut Oil, Mustard Oil, Vanaspati, Sunflower Oil, Soya Oil, Palm Oil, Tea, Milk, Potato, Onion, Tomato, Salt.
    • Newly Added (16 commodities):
      • Bajra, Jowar, Ragi, Suji (wheat), Maida (wheat), Besan, Ghee, Butter, Brinjal, Egg, Black Pepper, Coriander, Cummin seed, Red chillies, Turmeric powder, Banana.
Mahila Samman Savings Certificate (MSSC) Scheme Why in the news?

  • The Mahila Samman Savings Certificate scheme, which was introduced for a two-year period, is unlikely to be extended beyond its March 2025 deadline, according to official sources.

About MSSC Scheme:

  • Announced in Budget 2023.
  • Available for a two-year period, up to March 2025.
  • Dedicated to women and girls of all age groups.
  • Risk-free scheme.
  • Benefits: Encourages women to adopt formal financial saving instruments.
  • Features:
    • Eligibility:
      • Any individual woman.
      • Minor accounts can be opened by guardians.
  • Investment:
    • Minimum deposit: Rs. 1000.
    • Deposits in multiples of one hundred rupees.
    • Maximum deposit: Rs. 2 lakhs.
  • Interest Rate:
    • Fixed interest rate of 7.5%.
    • Interest compounded quarterly and credited to the account.
Maritime Partnership Exercise Why in the news?

  • India and Russia recently conducted a Maritime Partnership Exercise (MPX) in St. Petersburg.

About Maritime Partnership Exercise:

  • Occasion: Conducted on the 328th Russian Navy Day.
  • Participating Ships:
    • India: INS Tabar
    • Russia: Soobrazitelny
  • Significance:
    • Marks a significant milestone in maritime cooperation between India and Russia.
    • Reinforces commitment to peace, stability, and security in the region.
Standardised Precipitation Index Why in the news?

  • The India Meteorological Department recently used the ‘Standardised Precipitation Index’ (SPI) to analyze trends in precipitation and drought-like conditions over India.

About Standardised Precipitation Index:

  • Purpose: Estimates wet or dry conditions based on precipitation variables.
  • Calculation Basis:
    • Based on long-term precipitation record for a specific location.
    • Requires a long-term period (preferably longer than 30 years).
  • Index Nature:
    • Negative for drought conditions.
    • Positive for wet conditions.
    • Becomes more negative or positive with increasing severity of dry or wet conditions.
    • Time Scales: Includes timescales of 1, 2, 3, 6, 9, 12, 24, 36, 48, 60, and 72 months.
Bhartiya Beej Sahkari Samiti Limited (BBSSL) Why in the news?

  • The Union Minister of Cooperation recently informed the Rajya Sabha about Bhartiya Beej Sahkari Samiti Limited (BBSSL).

About BBSSL:

  • Establishment: Set up under the Multi-State Cooperative Societies (MSCS) Act, 2002.
  • Promoters: IFFCO, KRIBHCO, NAFED, National Dairy Development Board (NDDB), and NCDC.
  • Functions:
    • Production, procurement, and distribution of quality seeds under a single brand via cooperatives.
    • Improve crop yield and promote indigenous natural seeds.
    • Increase seed replacement rate and varietal replacement rate.
    • Ensure farmer involvement in the production of certified seeds.
    • Focus on production, testing, certification, procurement, processing, storage, branding, labeling, and packaging of foundation and certified seeds.
    • Nodal Agency: Ministry of Cooperation.

 

Odisha Specific News
Odisha posts 16% growth in July GST Context:

  • Odisha has witnessed a significant 16% growth in GST collection for the month of July. 
  • The state’s revenue from GST has reached Rs 4,925.02 crore, surpassing the previous year’s collection by a considerable margin. 
  • This positive trend indicates a robust economic activity within the state and contributes to Odisha’s overall financial health.
  • The consistent growth in GST revenue is a promising sign for the state’s economy.

About GST:

  • GST stands for Goods and Services Tax. 
  • It is a comprehensive, multi-stage, destination-based tax levied on the supply of goods and services. 

This means:   

  • Comprehensive: It subsumes most indirect taxes like VAT, service tax, excise duty, etc.   
  • Multi-stage: Tax is charged at each stage of the supply chain, but only on the value added.   
  • Destination-based: The final consumer in the state of consumption bears the tax.   

Key Constitutional Provisions:

  • 122nd Amendment: This amendment introduced Articles 246A, 269A, and 279A to the Constitution.
  • Article 246A: Grants concurrent powers to the Centre and states to make laws on GST.   
  • Article 269A: Defines the levy and collection of Integrated GST (IGST) on inter-state supply of goods and services.   
  • Article 279A: Establishes the GST Council, a body consisting of representatives from the Centre and states, to make recommendations on GST-related matters.

Key benefits of GST:

  • Reduced tax burden: Eliminates cascading effect of taxes.   
  • Improved compliance: Simplified tax structure.   
  • Common national market: Reduces interstate trade barriers.   
  • Increased revenue: Better tax collection efficiency. 
PESA Act  Context:

  • Rural Development Minister Rabi Narayan Naik informed that The Panchayats (Extension to Scheduled Areas) Act, or PESA, is set to be implemented in Odisha soon.

About:

  • PESA stands for Panchayats (Extension to Scheduled Areas) Act, 1996. 
  • It was enacted to extend the provisions of Part IX of the Constitution (related to Panchayats) to the Scheduled Areas, ensuring a degree of self-governance for Panchayats and Gram Sabhas
  • It’s a law designed to empower tribal communities living in Scheduled Areas of India by granting them greater self-governance.   

Key points:

  • Extends Panchayati Raj: Brings the benefits of Panchayati Raj system to tribal areas, but with modifications to suit their customs and traditions.   
  • Gram Sabha Power: Gives significant power to Gram Sabhas (village assemblies) in decision-making on local issues.   
  • Customary Rights: Recognizes and protects the customary rights of tribal people over land, forest resources, and water bodies.   
  • Consultation: Mandates consultation with Gram Sabhas on matters like land acquisition, resettlement, and development projects.   
  • Empowerment: Aims to empower tribal communities to manage their own affairs and preserve their cultural heritage

States under PESA:

  • The PESA Act is applicable to 10 Indian states with significant Scheduled Areas:
  • Gujarat
  • Jharkhand   
  • Chhattisgarh
  • Odisha
  • Madhya Pradesh
  • Maharashtra
  • Andhra Pradesh
  • Telangana
  • Mizoram
  • Tripura
Odisha to create over 100 new cooperative societies in Ganjam Context:

  • The Odisha government plans to establish over 100 new cooperative societies in Ganjam district.
  • This initiative aims to strengthen the cooperative sector in the region. 
  • The focus is on agriculture and dairy, with plans to set up new primary agriculture cooperative societies (PACS) and primary milk cooperative societies. 
  • Additionally, existing PACS will be upgraded to offer a wider range of services. 
  • This move is expected to benefit farmers and dairy producers in the district by providing better access to credit, inputs, and markets

Cooperative Societies:

  • The Indian Constitution, through the 97th Amendment Act of 2011, accorded constitutional status to cooperative societies. 
  • This amendment significantly enhanced the role and importance of cooperatives in the country

Primary Agricultural Credit Societies (PACS):

  • PACS are the grassroots level institutions of the cooperative credit structure in India. 
  • They operate at the village level and provide financial services primarily to farmers and rural communities.   

Key Functions:

  • Credit provision: Offering short-term loans for agricultural activities like sowing, harvesting, and purchasing inputs.   
  • Deposit mobilization: Accepting deposits from members to increase their resource base.   
  • Other services: Providing services like distribution of fertilizers, pesticides, and seeds

Addapedia Odisha-Daily Current Affairs-05 August 2024

Copyright © by Adda247

All rights are reserved. No part of this document may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior permission of Adda247.